Antares Pharma’s (ATRS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Antares Pharma (NASDAQ:ATRS) in a research note published on Monday, May 6th, AnalystRatings.com reports. HC Wainwright currently has a $4.50 target price on the specialty pharmaceutical company’s stock.

“We’re encouraged to see Teva Rx share jump to 9.7% in the latest data (week ending 4/26; Figure 1), and we model 25% in 3Q19. Thus, we expect strong continuing device orders and growing Antares royalty revenue in 2H19. Makena orders from partner AMAG (AMAG; not rated) were also up QoQ and should be a steady contributor. As we published in March, we do not expect Makena to be pulled from the market following the failed post-approval PROLONG study. Last, but certainly not least important, Xyosted Rx are off to a solid start. Sales in the quarter were de minimis (likely under $1M), but Rx volume was up 66% sequentially in March and the latest data showed new highs, and at our estimated steady-state $340/Rx, sales are running at $11-12M now (Figure 2).”,” the firm’s analyst wrote.

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A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Antares Pharma from a hold rating to a sell rating in a research note on Saturday, March 30th. TheStreet raised shares of Antares Pharma from a d rating to a c rating in a research note on Friday, March 1st. Raymond James lifted their price target on shares of Antares Pharma from $5.25 to $5.65 and gave the company a strong-buy rating in a research note on Monday, March 4th. Finally, Cowen began coverage on shares of Antares Pharma in a research note on Monday, February 25th. They issued an outperform rating and a $1.99 price target on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $4.83.

Shares of Antares Pharma stock traded down $0.03 during midday trading on Monday, hitting $2.79. The company had a trading volume of 669,486 shares, compared to its average volume of 935,653. The firm has a market capitalization of $453.71 million, a P/E ratio of -69.75 and a beta of 1.03. The company has a quick ratio of 1.90, a current ratio of 2.28 and a debt-to-equity ratio of 0.50. Antares Pharma has a 12-month low of $2.40 and a 12-month high of $3.96.

Antares Pharma (NASDAQ:ATRS) last posted its quarterly earnings results on Thursday, May 2nd. The specialty pharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Antares Pharma had a negative net margin of 7.91% and a negative return on equity of 17.94%. The company had revenue of $23.29 million during the quarter, compared to analyst estimates of $17.46 million. As a group, research analysts anticipate that Antares Pharma will post -0.1 earnings per share for the current fiscal year.

In related news, Director Thomas J. Garrity sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $2.67, for a total value of $80,100.00. Following the sale, the director now directly owns 190,213 shares in the company, valued at approximately $507,868.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leonard S. Jacob sold 92,078 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $3.00, for a total transaction of $276,234.00. Following the completion of the sale, the director now owns 301,970 shares in the company, valued at $905,910. The disclosure for this sale can be found here. Insiders own 5.49% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. grew its position in Antares Pharma by 7.8% in the 1st quarter. Advisor Group Inc. now owns 48,498 shares of the specialty pharmaceutical company’s stock valued at $147,000 after acquiring an additional 3,511 shares in the last quarter. Legal & General Group Plc grew its position in Antares Pharma by 16.6% in the 4th quarter. Legal & General Group Plc now owns 25,244 shares of the specialty pharmaceutical company’s stock valued at $69,000 after acquiring an additional 3,587 shares in the last quarter. NewSquare Capital LLC grew its position in Antares Pharma by 33.8% in the 4th quarter. NewSquare Capital LLC now owns 21,611 shares of the specialty pharmaceutical company’s stock valued at $59,000 after acquiring an additional 5,460 shares in the last quarter. Northern Trust Corp grew its position in Antares Pharma by 0.4% in the 4th quarter. Northern Trust Corp now owns 1,741,602 shares of the specialty pharmaceutical company’s stock valued at $4,738,000 after acquiring an additional 6,868 shares in the last quarter. Finally, Citigroup Inc. grew its position in Antares Pharma by 22.1% in the 1st quarter. Citigroup Inc. now owns 43,321 shares of the specialty pharmaceutical company’s stock valued at $132,000 after acquiring an additional 7,854 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Antares Pharma Company Profile

Antares Pharma, Inc focuses on developing and commercializing self-administered parenteral pharmaceutical products and technologies worldwide. The company's injection products include OTREXUP that comprises of pre-filled methotrexate syringe and VIBEX self-injection system to enable rheumatoid arthritis (RA) and psoriasis patients to self-inject methotrexate at home; XYOSTED for the treatment of testosterone deficiency in adult males; Sumatriptan Injection USP for the acute treatment of migraine and cluster headache in adults.